James Cropper closes retail arm
CUMBRIA-based paper mill owner James Cropper has announced that it is to close its Paper Mill Shop chain of retail outlets.
In a statement to the stock exchange, the firm said: “Following four years of losses and despite the best efforts of The Paper Mill Shop management team to bring this subsidiary back to profitability, the board of James Cropper PLC has taken the decision to close and exit all remaining TPMS retail outlets by 31 March 2011.”
The company said that the closure of the business is likely to cost it £1.2m in its current financial year. It is understood that around 100 staff will be affected by the decision.
The Paper Mill Shop’s online sales business, papermilldirect, will continue to trade but will become a part of the group’s Speciality Papers division.
The Paper Mill Shop currently sells paper, envelopes, cards and craft equipment from 15 retail units – five of which are based in the North West region.
It has stores at the Lowry Designer Outlet Mall in Salford Quays, Clayton Square Shopping Centre in Liverpool, the Freeport Designer Outlet Village in Fleetwood, the Rheged Discovery Centre in Penrith and a standalone unit at the firm’s Burneside Mills in Kendal.
